Joint Ventures

It is common practice for two or more parties to enter into an arrangement with respect to the joint development and operation of certain upstream assets. There are several reasons to pursue a joint venture, including a strategic location of assets, cost sharing or a certain expertise that each party can bring to the joint venture. The slides linked below provide a general overview of the characteristics and features of various joint venture deal structures in the upstream oil and gas industry. These features are illustrated through a discussion of the financial rights and obligations under different deal structures, in addition to a discussion of relevant property law issues, entity types, tax treatment and environmental considerations. Summaries of several recent and representative transactions are also included to provide real-world examples of these structures. Those individuals or entities considering the entry into a joint venture should consult their legal advisors in order to fully understand and best navigate the potential transaction.  

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US Upstream Joint Ventures
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